Glenn Beck: Where's the Wheat?




Related Video: Food vs Fuel

GLENN: Happy Earth Day, everybody, welcome to it.  Gas prices at a record high, $3.51 a gallon but if you are lucky enough to be a trucker, you are now paying $4.20 a gallon for diesel.  My question for truckers, and I know we got bunch of them listening.  Question to truckers, what is the price of diesel where you say, I'm out; I can't do it anymore?  What is the price of diesel?  We talked about this when diesel broke three -- I think it was $3.25 and truckers were starting to say, I can't do it, you know.  I put a second mortgage on my house; I don't know what to do.

So what is that magic number for truckers?  Because you've got to remember, gang, everything is moved in this country by truck.  Forget about the planes.  The airline industry having all kinds of problems because jets were not designed to be profitable at $100 a barrel.  Remember, $100 a barrel was insanity talk just six months ago.  We're now $100 -- come on, flip on me, $116.83 right now for oil.  $100.16.  I told you last night on television, we went back and we looked at the records.  It was about $60 a barrel when I said, what's the magic number that makes the economy fold?  They said $100 a barrel.  That's what you're paying right now.  Because remember, the $116 is an oil future.  That's -- you won't feel that at the gas pump for a couple of months yet.  So when it's $116 a barrel in oil futures, that's what you got looking forward.  What you're paying right now is the oil future that we saw about a month or two ago at about $100 a barrel.  So your $3.51 is in the past.  What's coming is $4, $4.50 and possibly $5 a gallon this summer.p>

Now, I had a guy who's the managing editor of Forbes magazine.  Stu, you wouldn't think the managing editor of Forbes magazine was a nut job, would you?

STU:  I do not think he's a nut job, I'm sure.  I don't know what you are talking about but I'm sure.

GLENN:  You didn't see it last night?

STU:  I didn't see the segment.

GLENN:  It was an amazing segment.  I asked him, because I can't now get anybody to go on record because at first it was $100 a barrel of oil would cause the economy to stop.  Then when we got close to $100, I said, oh, we're getting close to $100.  And then all the experts said, it will probably be $115, $120 a barrel.  Well, now that we're almost at $120 a barrel, what's the magic number?  Now the editor of Forbes magazine said the number two actually choke it off is $200 a barrel.  And he believes we could be at $200 a barrel quickly.

He also talked last night about how Saudi Arabia, they are not increasing oil production because they can't.  Now, this goes to a very controversial theory on oil production and that is peak oil.  We talked about it in our book and quite honestly it is the only chapter in "An Inconvenient Book" that is in the book that I don't know how I feel about.  I put it in there and we did our homework.  In fact, we did a lot of homework on that chapter because I'm not sure if I buy into peak oil.  People have been saying about peak oil, and it's the one thing that we have really not talked about on this show that's in the book because I'm not sold.

STU:  I think there's a healthy amount of skepticism in the chapter.

GLENN:  No, no, there is.  That's why -- I mean, you know, it was written by us and, you know, it's my book and I -- and Kevin was the one who presented me that chapter and said, I think we should do a chapter on this.  And I said, show me the evidence.  And so he did, and I still don't entirely buy it but I have to tell you, front page of the Wall Street Journal today talks about a new oil field that is now being -- getting ready to open up in Saudi Arabia.  It will add, I think it was -- I don't have it in here -- about a million barrels of oil a day.  In the grand scheme of things, Saudi Arabia does about 12 million barrels a day, 12.5 million barrels a day.  That's what they're at now.  They said at some point in the past they would never make it past 12.5 million barrels.  That was their top capacity.  It's now, the guy from Forbes last night was telling me that they are not only at their top capacity, it's now going to start to decrease because they're out of oil.  That's as good as it gets.  I was a little, still skeptical on that.  He said, peak oil people looked like they were right.

This morning on the front page of Wall Street Journal, it talks about what the Saudis have had to do to open up this oil field.  This is their last big oil field.  They have to do horizontal drilling, they have to pump water down into the ground to be able to get this oil out.  It's a different kind of oil.  It is very, very difficult and extraordinarily costly to get this oil out of the ground.  There's no way Saudi Arabia taps this oil field unless it's the oil field of last resort.  Now, granted it is a big oil field but this is it, experts are now saying, on the Saudi Arabian front.  And the proof to me at least for the first time is compelling because it's not, it's not speculative.  It's tied directly to finances.  There's no way Saudi Arabia takes that hit in their oil profits by opening up a less profitable field unless they have to.

Remember, they are not predicting that it's going to put more oil into the system.  It's only going to keep Saudi Arabia at 12.5 million barrels a day.  So you've got the gas prices happening, and gas prices are going to get worse.  Then on top of it, you now have -- and we talked about this yesterday -- in some areas of the country, and it's very limited, but I brought it up to you yesterday because we have for the first time, I told you on February 11th, for the first time the United States is importing wheat.  We've never had to do that before.  We're importing wheat and I told you on February 11th the oil -- I'm sorry, the grain futures are through the roof and it hasn't hit you yet, but it will.  Well, now it has started to hit, and it's hitting the rest of the world as well.

There are several things going on.  Quite frankly it's extraordinarily complex and I'm still trying to get my arms around it because the most difficult is the actual futures, the wagering.  I mean, we've got -- what we have, we've opened up for oil futures and commodities futures and the stock market.  This is gambling, and it is changing the price of things.  I'll get into that later on in the week.  But here's what I want you to understand.  Last night I'm reading a story about the shortage of butter -- you don't even know what my life is like -- the shortage of butter in Japan and there was a run on butter.  You can't get butter now in Japan.  It's off the shelves.  It's empty.

Well, what happened?  Japan didn't run out of butter.  There was a panic and there was a shortage, a 20% shortage of butter.  So when people started having a hard time finding it, they ran out and they snapped it all up.  Now butter prices in Japan are through the roof, and they can't buy butter.  This is a wealthy country.  They can't get the butter into the stores.p>

What was the butter caused by?  There's a shortage of cows in Japan.  Japan has imported everything that they need.  So there's a shortage of cows which means there's a shortage of milk.  Part of the shortage of cows and milk comes from the same shortage that we have, the price of grain.  So now you've got this problem and a panic in Japan.  Last night when I saw this about 10:00, and I wrote one of the researchers and I said, I'm sorry, I'm going to dump a bunch of work on what I -- this doesn't make sense to me, a shortage of butter.  This is not ethanol.  What is this?

Well, this morning when I got up at 5:00, I had a stack of stuff to read, and this is what I found and this is what I think you need to understand because it doesn't matter what the cause is at this point.  No one is telling you this yet, and you're going to get behind the eight ball if you don't know it now, and I'm going to give you not only the problem, I'm going to give you the solution.

This all started with a shortage of Japan, the butter in Japan, and here's where it's taken me.  The U.S. agriculture secretary Edward Schafer last week said the world has never been less secure about the near-term future of wheat.  That's key.  Not long term.  Near-term future of wheat.  He said international wheat stocks are now at a historic 30-year low and the U.S. wheat stocks are at an unprecedented 60-year low.  That's bad news.  But then he added there is a highly virulent after can stem rust that is spreading quickly among certain types of wheat field.  He said that 75% of U.S. wheat acres are planted to varieties that are highly susceptible to this disease.  This disease started, I think in Ghana.  Then it went all through Africa.  It's moved by the wind.  It's a spore and it moves by the wind.  Then it wiped out all the wheat fields and now it's jumped over to India.  This is why there's such a shortage of wheat overseas.  They have been coming over here now and buying our wheat.  We're having a shortage of wheat partly because we're not planting as much wheat as we used to.  We're planting more corn because we want ethanol.  So now this is spread across the globe.  It has not come here.  However -- and this comes from the research because I just, I said to one of the researchers, I'm not going to talk about mad cow, I'm not going to talk about another bird flu.  Tell me what the secretary of agriculture said about mad cow and the bird flu.  Nothing like this.  Going back and looking at the newspaper stories and the trips of when they were talking about mad cow and the first case of mad cow was here, the secretary of agriculture and the agriculture department said nothing like this.  They were saying, don't worry, it's not a problem, we got it under control.  This is not what they're saying about the wheat.

So bad news has become terrible news.  How fast do you think bread flour and other wheat products will literally disappear from our shelves if the virus hit?  He says 75% of our wheat is vulnerable to this.  If it hits 10% of our wheat fields, how fast can you not find flour?  Remember they have a 20% reduction in butter and now you can't find it anywhere.  Here's what I need you to understand.  What's happening in Japan right now is panic.  What's happening in Japan is panic.  What's happening in Haiti, what's happening in Egypt, what's happening in all the parts all around the Middle East is real.  There is a real shortage of food and it's happening in China, in India and everywhere else.  What happened in Japan is panic.  We will not run out of food.  We're the United States of America.  We have great farmers.  We have great farmland.  We will not run out of food.  But because of oil prices, because if there is this rust spore that comes over here, this is the downward pressure that I was talking about.  The price of food and the price of oil could be the downward pressure that we've been talking about.

ThThe only way -- you know what?  I feel this to the core of my being.  Our grandparents would slap us across the face right now.  For anybody who is saying, oh, please.  All I'm asking you to do is go out and buy some flour.  Don't panic.  Don't hoard it.  Don't do any of that.  Just go out and protect your family.  Go out and store some flour.  Store some rice.  Put it in your basement.  Use it through the summer or whatever.  Just hang onto it and then if things get bad, you use it.  So you batten down the hatches of your own finances.  So you don't have to worry so much about food prices because futures are telling us that the price is going to continue to increase.  The global food price has gone up 83% in the last three years alone.  Futures are telling us it's going up.  You will pay that price in gas soon.  You will pay that price in food soon.  The truckers will have to charge more for the delivery soon.  So you're going to feel this much more than you are now.  Spend your money wisely and store up on some food.  So then when everybody else is panicking, you will be calm enough with your family and your neighbors and say, relax.  Relax, we'll never run out of food and you won't be panicked because the worst thing that happens is when people panic, and there's got to be a core of people that don't panic if and when these things hit.  And when it comes to food, when it comes to gas prices, they are going to hit because the price is based on futures, and the futures are telling you it's gone up, and you ain't paying it yet.  You will.

It's never too early to start your Christmas, Hanukah, or Kwanzaa shopping. Or even birthday gift shopping. Especially if that special someone in your life is a Democrat. Because at last count, pretty much all the Democrats are now running for president. And that means there has never been a wider selection of official candidate merchandise to choose from. Whether you're into environmentalism, feminism, classism, socialism, or just plain love, there is a smorgasbord of classy items that you and yours will treasure forever... or at least until the next presidential election.

We have browsed each of the candidates' online stores, so you don't have to (it only took us three months). We have curated only the finest items from each of the Democrats running for president of the United States of America. Without further ado, here is your handy progressive gift guide – or maybe your what-not-to-gift guide.

First, the bargain basement options. Hurry! Time is running out to grab your Beto bandana, or your Delaney pack of golf balls, because at this point Stu has as much of a chance as these guys of getting the nomination.

Tom Steyer, for example – is he still in the race?


https://shop.tomsteyer.com/collections/frontpage/products/tom-2020-pattern-tee


There's way too much Tom here. That shirt's got more Toms than a Caucasian dentists' convention.

For the slightly more moderate Democrat in your life, perhaps they'd like to join the "Yang Gang"…

https://shop.yang2020.com/collections/bumper-stickers/products/yanggang-decal


Andrew Yang is a lock for Math Club president…


https://shop.yang2020.com/collections/apparel/products/math-hat


But for actual president? Well, I wouldn't make plans for how you're going to spend your $1,000-per-month Yang allowance just yet.

If you happen to be shopping for your dog, may I suggest this lovely "Dogs for Delaney" dog collar…


https://store.johndelaney.com/products/dogs-for-delaney-collar


John Delaney's definitely going to secure the canine vote with this kind of outreach. As for any human votes, that's another question entirely.

How 'bout this tastefully understated "Natural Canvas" Michael Bennet tote to remind you he's also still here?...


https://store.michaelbennet.com/michael-bennet-for-america-natural-canvas-tote/


Then again, it's a tote. So, it'll end up on the floor of your closet and you won't have it with you until that one random moment when you're out somewhere and you really need a tote bag. Just like Democrats will really wish they had a moderate when we're in the middle of the socialist nightmare of their creation.

Captain Planet himself, Jay Inslee recently dropped out of the race, but don't let that stop you from picking up what may be the greatest single item sold by anyone in this race…


https://store.jayinslee.com/elvis-the-elves-the-mystery-of-the-melting-snow-by-jay-inslee/


A children's book called Elvis & the Elves: the Mystery of the Melting Snow. Written and illustrated by Governor Jay Inslee. Talk about a whodunnit – how could that snow possibly be melting? Spoiler alert: it's because of evil, white, patriarchal capitalism. And Donald Trump.

Then there's the candidate who thinks you're a moron that can't pronounce his last name: Steve Bullock...


https://shop.stevebullock.com/collections/apparel/products/emoji-t-shirt


Get it? Bull. Lock. Oh, so that's how you say the name that sounds exactly how it's spelled.

There's another candidate who also thinks you need help pronouncing his last name…


https://store.peteforamerica.com/collections/apparel/products/boot-edge-edge-t-shirt


And he is definitely right about that. So, thank you, Pete "Boot Edge Edge." That helps.

Just outside the bargain bin section, but just barely, are candidates like Julian Castro and his "El Presidente" t-shirt…


https://store.julianforthefuture.com/julian-castro-loteria-card-white-tee/


When your last name's Castro, do you really want to go with a weird drawing of yourself as if you're a classic Latin American dictator on a postage stamp?

If you prefer a little "dark psychic forces" battling in your candidates, you'll love Marianne Williamson's "Turn Love Into a Political Force" rally sign…


https://store.marianne2020.com/collections/signs/products/love-rally-sign


"Turn Love Into a Political Force" would be an even better title for a Marianne Williamson album of 80s cover songs. And if you think I'm joking, then you haven't heard Bernie Sanders' classic 1987 folk album, We Shall Overcome. That's not a joke. Well, it is a joke, but it's also a very real thing.

Now, just a quick pause to consider the peculiar baby-wear that way too many candidates are selling…

…including Elizabeth Warren's trans-pride flag onesie. Let me get this straight – we can't force any gender on a child, because that's just cruel. But we can force a political advertisement on a baby? How do we know that baby is actually a Biden or Warren fan? The child may not even be a Democrat or a Socialist at all. That baby might self-identify as a Libertarian, or Republican, or even worse – a moderate Democrat.

Now to the premium items from the premium candidates. Elizabeth Warren – the candidate with the most honesty in her advertising…


https://shop.elizabethwarren.com/collections/apparel/products/impolite-arrogant-women-make-history-unisex-t-shirt

-AND-

https://shop.elizabethwarren.com/collections/drinkware/products/strong-american-unions-mug


Warren's merchandise reflects the woman herself – cold and humorless (watch her "This isn't funny" clip from the last debate here at the 4:27 mark). I'm sure she's really fun once you get to know her. Then again, maybe not.

Speaking of serious women, Kamala Harris wants to be president very badly for you, the people, as you can tell from her "For the People" poster…


https://store.kamalaharris.org/poster-for-the-people/


At $29.99 though, she's sure not charging "people's" prices. Of course, she might be having to pay royalties to a certain someone for riffing on their poster. Just saying.

For the race's number one socialist, there's a whole lot of capitalism going on in Bernie Sanders' campaign. He sells so many delightful items that it's hard to choose. But we did anyway. The most random item is this hundred-dollar, black, "Art of a Political Revolution – Artists for Bernie Sanders Coaches Jacket"…


https://store.berniesanders.com/collections/apparel/products/artists-for-bernie-coaches-jacket


Coaches across the land will be clamoring for this one. You know, since coaches are such a strong Bernie-socialist demographic.

If that's a little over your budget you might consider a "Feel the Bern" fanny pack, to help store all those government freebies you'll get from Bernie…


https://store.berniesanders.com/collections/apparel/products/feel-the-bern-fanny-pack


This is the only context in which you'll ever want to hear "feel the burn" and "fanny" in the same sentence.

And finally, from front-runner Joe Biden, we have this fine "Women's Fitted Biden Polo." Which is just about the best polo description ever…


https://store.joebiden.com/collections/apparel/products/biden-polo-womens-fit


It promises the kind of snug approach that Biden loves to provide women. Even when they don't ask.

This was one of the first homesteads in the area in the 1880's and was just begging to be brought back to its original glory — with a touch of modern. When we first purchased the property, it was full of old stuff without any running water, central heat or AC, so needless to say, we had a huge project ahead of us. It took some vision and a whole lot of trust, but the mess we started with seven years ago is now a place we hope the original owners would be proud of.

To restore something like this is really does take a village. It doesn't take much money to make it cozy inside, if like me you are willing to take time and gather things here and there from thrift shops and little antique shops in the middle of nowhere.

But finding the right craftsman is a different story.

Matt Jensen and his assistant Rob did this entire job from sketches I made. Because he built this in his off hours it took just over a year, but so worth the wait. It wasn't easy as it was 18"out of square. He had to build around that as the entire thing we felt would collapse. Matt just reinforced the structure and we love its imperfections.

Here are a few pictures of the process and the transformation from where we started to where we are now:

​How it was

It doesn't look like much yet, but just you wait and see!

By request a photo tour of the restored cabin. I start doing the interior design in earnest tomorrow after the show, but all of the construction guys are now done. So I mopped the floors, washed the sheets, some friends helped by washing the windows. And now the unofficial / official tour.

The Property

The views are absolutely stunning and completely peaceful.

The Hong Kong protesters flocking to the streets in opposition to the Chinese government have a new symbol to display their defiance: the Stars and Stripes. Upset over the looming threat to their freedom, the American flag symbolizes everything they cherish and are fighting to preserve.

But it seems our president isn't returning the love.

Trump recently doubled down on the United States' indifference to the conflict, after initially commenting that whatever happens is between Hong Kong and China alone. But he's wrong — what happens is crucial in spreading the liberal values that America wants to accompany us on the world stage. After all, "America First" doesn't mean merely focusing on our own domestic problems. It means supporting liberal democracy everywhere.

The protests have been raging on the streets since April, when the government of Hong Kong proposed an extradition bill that would have allowed them to send accused criminals to be tried in mainland China. Of course, when dealing with a communist regime, that's a terrifying prospect — and one that threatens the judicial independence of the city. Thankfully, the protesters succeeded in getting Hong Kong's leaders to suspend the bill from consideration. But everyone knew that the bill was a blatant attempt by the Chinese government to encroach on Hong Kong's autonomy. And now Hong Kong's people are demanding full-on democratic reforms to halt any similar moves in the future.

After a generation under the "one country, two systems" policy, the people of Hong Kong are accustomed to much greater political and economic freedom relative to the rest of China. For the protesters, it's about more than a single bill. Resisting Xi Jinping and the Communist Party means the survival of a liberal democracy within distance of China's totalitarian grasp — a goal that should be shared by the United States. Instead, President Trump has retreated to his administration's flawed "America First" mindset.

This is an ideal opportunity for the United States to assert our strength by supporting democratic values abroad. In his inaugural address, Trump said he wanted "friendship and goodwill with the nations of the world" while "understanding that it is the right of all nations to put their interests first." But at what point is respecting sovereignty enabling dictatorships? American interests are shaped by the principles of our founding: political freedom, free markets, and human rights. Conversely, the interests of China's Communist Party are the exact opposite. When these values come into conflict, as they have in Hong Kong, it's our responsibility to take a stand for freedom — even if those who need it aren't within our country's borders.

Of course, that's not a call for military action. Putting pressure on Hong Kong is a matter of rhetoric and positioning — vital tenets of effective diplomacy. When it comes to heavy-handed world powers, it's an approach that can really work. When the Solidarity movement began organizing against communism in Poland, President Reagan openly condemned the Soviet military's imposition of martial law. His administration's support for the pro-democracy movement helped the Polish people gain liberal reforms from the Soviet regime. Similarly, President Trump doesn't need to be overly cautious about retribution from Xi Jinping and the Chinese government. Open, strong support for democracy in Hong Kong not only advances America's governing principles, but also weakens China's brand of authoritarianism.

After creating a commission to study the role of human rights in U.S. foreign policy, Secretary of State Mike Pompeo wrote last month that the principles of our Constitution are central "not only to Americans," but to the rest of the world. He was right — putting "America First" means being the first advocate for freedom across the globe. Nothing shows the strength of our country more than when, in crucial moments of their own history, other nations find inspiration in our flag.

Let's join the people of Hong Kong in their defiance of tyranny.

Matt Liles is a writer and Young Voices contributor from Austin, Texas.